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(Aug. 8, 2001) -- Interactive media company Engage, Andover, Mass., announced preliminary financial results for its fiscal fourth quarter and said it has lost the financial support of parent company CMGI.

The interactive holding company has not renewed or extended its $50 million conditional financing commitment to Engage beyond July 31. Engage said CMGI "has indicated its continued readiness to discuss with Engage what commitment may be required of CMGI."

For the fiscal fourth quarter, Engage expects a net loss before various costs to be between 9 cents and 12 cents per share, compared with a previously announced range of 8 cents to 11 cents per share. Revenues are expected to be below expectations and should be in the $15 million to $16 million range.

Based on the company's revised expectations, Engage expects full-year fiscal 2001 revenue to be in the range of $109.5 million to $110.5 million, about 4%t lower than previously expected. Net loss per share for fiscal 2001 is expected to be between 65 cents and 71 cents, higher than the previously announced range of 64 cents to 70 cents. -- Adrienne Mand

Copyright August 2001, Crain Communications Inc.

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